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Molybdenum Concentrate Price - May 8, 2021

Molybdenum market quotation in China: ferro molybdenum, ammonium molybdate and molybdenum concentrate prices edge higher on May 8, 2021 thanks to active steel tenders. 

Suppliers have a strong psychology to raise price recently. First, the steel tender market remains active after the holiday. In the case of limited molybdenum concentrate stocks, holders are more aware of reluctance to sell; second, the international molybdenum oxide price has risen slightly and thus the trading confidence of domestic traders has been improved; third, the recent looser monetary policy of the central bank and the steady recovery of global economic fundamentals have played a role in boosting the rise in commodity prices.

According to data released by the China Federation of Logistics and Purchasing, the global manufacturing purchasing manager index (PMI) in April was 57.1%, a decrease of 0.7 percentage points from the previous month. In terms of regions, the manufacturing PMIs of Africa and the Americas have fallen to varying degrees from the previous month; Asian manufacturing PMIs remained unchanged from the previous month, stabilizing above 51% for 7 consecutive months; European manufacturing PMIs increased by 1.3 percentage points from the previous month to 60.8%, a month-on-month increase for three consecutive months.

Prices of molybdenum products on May 8, 2021

Picture of molybdenum concentrate

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